Updated October 16, 2026
Travel agencies and tour operators lost almost all of their revenue in 2020 and 2021, and many leaned on CEBA to survive. If you still owe a balance, it is due on December 31, 2026. Travel businesses can refinance, but lenders look at them a little differently.
Where your CEBA loan stands in 2026
- The full balance is due December 31, 2026. There is no further extension.
- Interest has been charged at 5% a year since January 19, 2024. Forgiveness ended in 2024 and those deadlines are final.
- Unpaid loans are likely to be assigned to the CEBA Program for collection, with the Canada Revenue Agency (CRA) assisting. Closing the business does not cancel the debt.
What lenders look at in your industry
- Gross bookings versus your revenue. Client deposits held in trust (for example under Ontario’s or B.C.’s travel regulations) are not your revenue. Lenders look at commissions and fees you actually earn.
- Seasonality. Bookings peak in winter and early spring. Include statements that show a full cycle.
- Supplier and consortium relationships. Stable host agency or consortium agreements reassure lenders.
- Owner credit. Small agencies are often judged largely on the owner’s personal credit.
Refinancing options that tend to fit
Because commission income is lumpy, a term loan with fixed payments sized to your slowest months is usually safer than a daily-repayment advance. Home-based and host-agency advisors with lower revenue may not meet online lenders’ minimums; in that case, ask your bank or credit union about a small business loan or line of credit, and start early.
Typical lender minimums
Most online lenders that refinance CEBA balances look for at least 6 months in business and roughly $10,000 a month in revenue. Some also want a credit score of 550 to 600 or higher, and some lend only to incorporated businesses. Banks and credit unions usually want a longer track record and stronger credit, but can offer lower rates. Compare lenders that refinance CEBA loans to see which ones fit your numbers.
What to have ready
- Your current CEBA balance and the bank or credit union that holds it
- 3 to 6 months of business bank statements
- Your business number, incorporation documents (if incorporated) and time in business
- Commission statements from suppliers or your host agency
- Your provincial travel registration, if applicable
Next step
Applying in October or November leaves time for approval and funding before December 31. Compare CEBA refinancing options, use the repayment calculator to size the payment, or read what happens if your loan goes to CRA collections.
ceba.ca is an independent website and is not affiliated with the Government of Canada. Official program information is at ceba-cuec.ca. If your loan has already been assigned to the CEBA Program, the CRA CEBA Contact Centre is at 1-800-361-2808.